FOCUS: Skyrocketing house prices leave many South Koreans struggling to buy

Politics Economy Society

Skyrocketing property prices in South Korea are leaving ordinary people struggling to find affordable housing, especially in the capital Seoul and surrounding areas. According to KB Kookmin Bank, the average price of a condominium in Seoul in April rose to some 1.11 billion won ($1 million). A survey by civic group Citizens' Coalition for Economic Justice showed that the price has come close to doubling during the four years since 2017. With interest rates reduced as part of measures against the coronavirus pandemic, cheap money has flowed into an already overheated real estate market, and wit...

Kyodo News

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